Bullet-proof Your Gift Selections – Step 5- Understanding Seasonality
You’ve probably heard gift vendors talk about seasonality. Usually, it’s associated with a predictable curve in account opening performance throughout the year. For bullet–proof gift recommendations, seasonality takes a slightly different meaning.
How does Geography affect Seasonality?
It’s a pretty standard practice to match seasonal gifts to the right period of time. An example would be outdoor items typically run well in the summer, and household/kitchen items do the trick in the fall and winter. Electronics and luggage do well year-round.
There are some exceptions to this rule. In temperate areas, such as the Southwest, Southern California, and Hawaii, outdoor items such as coolers, sports chairs, grilling accessories, etc, have a much longer seasonal appeal due to a mild Fall/Winter climate.
It’s important to understand your geographic footprint, and how it impacts choosing the most appropriate gift.
How does Retail Seasonality affect Supply?
Seasonality is also important from a manufacturing perspective as well. Most brand name manufacturers produce items based upon forecasts from national retailers. Gift recommendations for banks are sometimes made months in advance (usually just after manufacturers release new products). It’s critical to also factor in retail seasonality in determining manufacturer support of the product. This trap is a major reason why banks get switched from item to item. A new item is shown to marketers, the gift tests well, and they throw it into the mix for gift recommendations. Retail buyers don’t buy enough of the item, and the manufacturer kills it. You don’t find out until it’s time to ship.
River Rock Marketing puts each manufacturer through a six-point review process that is used to determine the reliability of manufacturers to support our customers’ incentive programs. This process dramatically reduces delivery disruptions. We also have tons of experience with manufacturers, and we use that to match great gifts with superior execution.